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This was pretty well documented when it happened in 2011. You can do anything you want in a private company if the shareholders agree. In this case, Groupon's existing shareholders agreed to roll around in big piles of money so that new investors could get in at any price.

Came here to ask the same question as blahedo. Especially as the claim in made in the article, but not expanded. Are there any sources for or reports on this?

Google for "Groupon series D" or "Grouponzi".

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